Final bids are reportedly due in early May.
According to the sources, JPMorgan (JPM) has been chosen to manage the auction and the company has received takeover interest from at least five bidders, in a "very active" process.
Avaya was reported in late March to be considering a leveraged buyout offer from a private equity firm that values the telecommunications equipment and software vendor at more than $20 per share or more than $5 billion, including debt.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 18.85, Change: +0.25, Percent Change: +1.34
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